Bangkok--11 Nov--Integrated Communication
KCE Electronics PCL (KCE), a top producer and exporter of the Printed Circuit Board (PCB) in South East Asia, has gladly unveiled its highly successful 3Q-2014 operating results, which make it the best performing quarter of the year so far. During this period, the company marked a new Sales and Profit record for the fifth consecutive quarter, with total sales revenue rising to Baht 2,999 million and net profit closing at Baht 611.1 million. The company believes its operating performance in 2014 will achieve even better results than previously anticipated.
Mr. Bancha Ongkosit, Executive Chairman, KCE Electronics Public Co., Ltd. or KCE , revealed that, “The consolidated total sales revenue of KCE and its subsidiaries in 3Q-2014 reached Baht 2,999 million and the net profit rose to Baht 611.1 million, an increase of 18.1% and 86.6% respectively from Baht 2,539.6 million in total sales revenue and Baht 327.5 million in net profit achieved the year before.”
“3Q-2014 was our best performing quarter for this year so far, marking a new Sales and Profit record for the fifth consecutive quarter. Total sales revenue was increased from Baht 2,818.6 million in the previous quarter to Baht 2,999.0 million in 3Q-2014, a Q-o-Q growth of 6.4 % in Baht terms (7.5% in dollar terms), which was in line with the anticipated high-season. Sales revenue also increased as a result of the increase in unit shipments which was due to substantial improvement in our manufacturing efficiency; and thus enabled factory to increase its production output.”, explained Mr. Bancha.
Gross margin as a percentage of sales increased slightly from 31.44% to 31.76% Q-o-Q, which was due to the increased productivity, together with foreign exchange rate effects. The significant Y-o-Y margin improvement was the result of increased utilization of capacity, continuing production efficiency and the stabilized manufacturing costs.
Normalized operating profit in 3Q-2014 was Baht 496.0 million, or 16.5% of sales, which was primarily attributed to the revenue growth and the increase in gross margin rate. In September 2014, KCE Technology (a subsidiary) booked final compensation from insurance claim (BI) for Baht 101 million, net of relevant expenses and tax. As a result, net profit was posted at Baht 611.1 million in 3Q 2014.
Mr. Bancha further noted that, “For the 9 months ended September 30, 2014, the Group consolidated sales was increased from Baht 6,800.9 million to Baht 8,582.7 million and net profit was increased from Baht 796.8 million to Baht 1,529.5 million. Compared to the prior-year period, basic earnings per share increased from Baht 1.73 to Baht 2.86 per share.”
“The company’s management believes that our outstanding 2014 operating performance will achieve even better results than what have been previously predicted”, concluded Mr. Bancha.
For more information, please contact:
Public Relations Department, Integrated Communication Co., Ltd.,
Tel. 0 2354 3588 www.incom.co.th